April 15, 2020
Multifamily brokerage Gebroe-Hammer Associates, based in Livingston, NJ, tallied $316.4 million in sales during the first quarter. The firm arranged sales across New Jersey, the Philadelphia metro area and New York State.
“Q1 marked “a ‘carry-over’ of the same historic multifamily investment confidence that fueled one of the longest and most aggressive apartment-property investment cycles in history,” said president Ken Uranowitz.
“Now, as a society and as an industry, we find ourselves in unchartered waters due to the sudden and abrupt measures imposed to slow the spread of COVID-19,” Uranowitz said. “While there are challenges that can only be fully addressed with the passage of time, health and well-being remain paramount.
“In this regard, multifamily properties play an integral role in providing tenants and communities with the most basic needs of shelter, a place to live and a place from which to telecommute for work or education,” he added.
Pictured: 3343 Park Ave. in Union City, NJ, part of a $65-million portfolio sale brokered by Gebroe-Hammer.
For comments, questions or concerns, please contact Paul Bubny